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    4 Replies Latest reply on Jul 22, 2012 6:28 AM by phanio


    Apoorv82 Adventurer

      Ineed to start a small business.What are the best option to get loan in the market as there are so many options available.         

        • Re: Finance
          LUCKIEST Guide

          I agree with you, There are many options available.

          Tell us more. What kind of small business??


          Are you preparing a business plan??

          The more you share with us, the better our answers.


          Good luck, LUCKIEST

          • Re: Finance
            apivner Wayfarer

            Agreed. There are many options out there. We need to know a bit more to really give you the help you need to start up your small business.


            You could go for more traditional means of raising funds (loans) or newer/riskier ways that can show some good returns if you have the right network (crowdfunding).


            First off, tell us what your small business is.

              • Re: Finance
                palmfanatic Wayfarer

                Hi there ,

                Congratulations on the idea of starting your own business.Thats what we need to get the economy moving.Firstly have a serious think about what exactly you need the finance for.Can you start thw business from home without taking out any loans or credit , i know its unlikely that you wont need anything but if there is a way to do it without credit that may give you one less thing to worry about.

              • Re: Finance
                phanio Pioneer

                Your options for a startup business are, actually, limited.  Most banks and private lenders do not lend to startups - unless those startups have tons of assets, great cash flow and for the most part profitability.


                If you are seeking a bank loan - you might want to put that on a back burner.  There are alternative lenders that will fund against cash flow - provided that you have been in business for a bit and have some cash flow.  There are, depending on how much you are seeking, micro lenders that will lend up to $35,000 for startup businesses.   But, these take time to fund and usually require solid credit histories - they are actually more like personal loans than business loans.


                There are asset based lenders that will lend against future cash events - thus, if you have accounts receivables or purchase orders from solid customers - then these lenders will provide short-term working capital to help you complete those jobs/orders.


                We have more infromation and a searchable database on our site for these options.


                Most startups are self-funded - where the business owners uses personal resources to either self-fund or seek personal loans.  It is just the nature of the beast - unless, you already have credit, collateral and cash flow.